HDFC Chairman Deepak Parekh on Tuesday said all lenders should withdraw teaser loan schemes or else the one who withdraws will lose business.

Decision on teaser rates has to be collective: Parekh

Business Standard

The Reserve Bank of India (RBI) on Tuesday reintroduced measures to ease liquidity, as borrowing by banks exceeded Rs 1 lakh crore for a second day, indicating tightness.

RBI eases liquidity on frictional pressures

Two non-life insurance companies have approached the Insurance Regulatory and Development Authority (Irda) with proposals for mergers and acquisitions (M&amp;A), according to Irda chairman J Hari Narayan. He, however, declined to disclose the details.

Two non-life insurers approach Irda with M&A proposals

SKS Microfinance, the largest and the only listed microfinance institution (MFI) in the country, on Tuesday said it was planning to further reduce interest rates to 24 per cent in Andhra Pradesh and 18 other states.

SKS to reduce interest rates to 24%

Consider it a sunrise industry, but run up against the FDI barrier.

PE firms keen to profit from defence production sector

China will force banks to hold more foreign exchange and strengthen auditing of overseas fund raising, stepping up efforts to curb hot-money inflows that may inflate asset bubbles and add pressure for a stronger yuan.

China to tighten control on overseas fund inflows

Former Reserve Bank of India governor YV Reddy said that a lot more work needed to be done to strengthen the financial sector regulation at the global level although the sector doesn't want it, and that its scope should extend to non-banking companies.

Need to strengthen financial regulation: YV Reddy

The US Overseas Private Investment Corporation (OPIC) will provide $100 million in financing for the $300-million South Asia Energy Fund, part of the Global Environment Fund (GEF). The South Asia Energy Fund which will invest in solar, wind, hydropower, advanced biofuels and natural gas projects, with focus on Indian investment.

US govt arm to give $100-mn for energy projects

Amitabha Guha has joined South Indian Bank (SIB) as non-executive chairman in the place ofGA Shenai, who retired recently. Guha is a former managing director of State Bank of Travancore&nbsp;(SBT) and&nbsp;of State Bank of Hyderabad (SBH).

Amitabha Guha joins SIB

The National Bank for Agriculture and Rural Development (Nabard) on Tuesday sanctioned Rs 58 crore across the state under the Rural Infrastructure Development Fund (RIDF).

Nabard sanctions Rs 58 crore

Standard Chartered Private Bank is expecting to manage more than $ 2 billion in India by December this year, indicating a rise in the number of rich and ultra-rich households in the country.

Standard Chartered hopes to manage $2 bn by December

State Bank of India reported a 22.5 per cent drop in consolidated net profit for the September quarter to Rs 2,363.95 crore on the back of loan-loss provisioning of Rs 2,162 crore. Robust net interest margin and strong traction in the core fee income were key positives, but deterioration in asset quality took a toll on the financials.

State Bank of India: On a slippery slope

&quot;We have headroom for Rs 2,600 crore and we are planning to raise around Rs 1,400 crore during the second half of the year. We have not finalised the timing of the issue,&quot; Allahabad Bank chairman and managing director J P Dua told PTI.

Allahabad Bank to raise Rs 1,400 cr in H2 FY11

Press Trust of India

Private sector lender Kotak Mahindra Bank today hiked its deposit rates on several maturities by up to 25 basis points (bps).

Kotak Bank ups deposit rates by up to 25 bps

Private sector insurer Kotak Life Insurance has four unit linked products (Ulips) in the pipeline and is expecting to collect up to an 8 per cent premium from its on-line offerings in the next 18 months, a top executive said.

Kotak Life says four Ulips in offing

Public sector lender Indian Overseas Bank (IOB) today said that it has proposed to float a subsidiary for providing IT solutions to various banks in the country.

IOB to float subsidiary to offer IT solutions

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 111.24 crore as loan assistance to Karnataka for building rural infrastructure in various districts. The funds are sanctioned under the 16th tranche of the Rural Infrastructure Development Fund.

Rs 111 cr loan from Nabard

State-owned Power Finance Corporation (PFC) is planning to float two subsidiaries, one for undertaking consortium lending and the other to focus on funding renewable energy projects, Satnam Singh, chairman and managing director, said on Wednesday.

PFC plans arms for consortiums, clean energy

NIMs for the sector declined to 2.5 per cent for 2009-10, from 2.9 per cent in 2008-09. Net profits declined in the past two financial years, say Reserve Bank of India data.

Slowdown dents margins of urban co-op banks in 2009-10

Remittances to developing countries are expected to reach $325 billion this year, up from $307 bn in 2009. The top recipient countries in 2010 are India, expected to receive $55 bn (Rs 2.44 lakh crore), followed by China ($51 bn).

India tops world in remittance receipts

China posted a larger-than-forecast $27.1 billion October trade surplus, a day before Group of 20 leaders including Presidents Barack Obama and Hu Jintao meet in Seoul to tackle global imbalances in spending and capital flows.

China's trade surplus surges in October, reserve ratio climbs

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